July 30, 2009

Shockingly, Capitalism And Common Sense Intervenes In The Treasury Auctions

You mean to tell me that an ass fuck load of national debt might, just might, damper demand for U.S. Treasury Sales?

Get. The. Fuck. Out.

Under the weight of the ballooning deficit, the government has raised auction volumes and analysts now wonder whether the strain on the market is showing.

"Obviously everyone is inferring that tomorrow's won't be good either," said James Combias, head of government bond trading at Mizuho Securities USA in New York. "Maybe you will see more interest tomorrow but I think the increase in the auctions and the size of them may be starting to have an effect. These are very large auctions."

Demand for the five-year notes was below average, measured by the bid-to-cover ratio of 1.92, the lowest in almost a year.

No fucking shit, Triple Word Score of Cockholsters. When the Treasury prints money as if it's toilet paper, you bet your fucking ass that nobody will fucking pay top dollar for something that may be worthless by the time the ink dries on the Treasury Notes.

But I am sure Obama and his team have a plan. Right?


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